More Markets lending reserve drained of $9.3 million

DeFi infrastructure protocol More Markets suffered a loss of roughly $9.3 million after an attacker drained its lending reserve on the Flow EVM.

How the exploit was carried out

The attacker combined Ankr Staked FLOW (ankrFLOW), a liquid‑staking token, with Aave V3’s efficiency mode (E‑mode) to overborrow from the mFlowWFLOW lending reserve. E‑mode boosts borrowing power for assets that are expected to move in tandem, such as a liquid‑staking token and its underlying asset.

Scale of the loss

Blockaid’s analysis shows about 15.5 million Wrapped Flow (WFLOW) tokens were removed from the reserve, valued at approximately $9.3 million at the time of the attack.

Context within August’s DeFi hacks

The incident raised total losses from cryptocurrency hacks in August to $139.7 million, making the month the third‑largest in 2026 by value stolen, though it was down from July’s $254 million.

Responses and comments

More Markets has not publicly confirmed the breach or disclosed any user impact. Cointelegraph’s attempts to contact Blockaid and More Markets for comment were unsuccessful.